Bicycle Market Anticipated To Expand At A CAGR Of 6.1% Over The Forecast Period 2018 - 2025: Grand View Research Inc.
San
Francisco, 25 February 2019: The Report BicycleMarket Size, Share & Trends Analysis Report By Product
(Mountain, Hybrid, Road), By Technology (Electric, Conventional), By End User
(Men, Women, Kids), By Region, And Segment Forecasts, 2018 – 2025.
The global bicycle
market size is expected to reach USD 75.47 billion by 2025, according to a
new report by Grand View Research, Inc. It is anticipated to expand at a CAGR
of 6.1% over the forecast period. Increasing adoption of cycling as a form of
leisure and awareness regarding the health benefits associated with cycling are
expected to bolster market growth. Bicycles are being preferred for short
distance commutes as they save considerable time as compared to other vehicles.
Moreover, limited parking spaces and growing traffic congestions are prompting
people to reconsider bicycles as a primary commute option.
Rising
emphasis on the use of non-polluting vehicles for short distance commutes by
the governments across the world is anticipated to positively influence market
growth. The fact that bicycles do not emit any pollutants is projected to drive
their demand in near future.
The road
bicycle is expected to emerge as the fastest-growing segment over the forecast
period. Road bicycles happen to be the most basic bicycles that people prefer
owing to their ease of use. These cycles do not require any sophisticated
equipment required by mountain and hybrid bicycles. This factor is anticipated
o bode well for growth over the forecast period.
Access Research Report of Bicycle Market @ www.grandviewresearch.com/industry-analysis/bicycle-market
Further key findings from the report
suggest:
·
The global bicycle market is growing
significantly as bike sharing companies, particularly in Europe and Asia, are
investing aggressively in expanding their operations
·
Mountain bicycle segment is
anticipated to expand at a CAGR exceeding 4% over the forecast period. Rising
popularity in line with the increasing media coverage for mountain bicycle
racing events and the establishment of new mountain biking circuits are
expected to drive the growth
·
Apart from being easy to use,
electric bicycles can potentially shorten the journey time. Moreover, advances
in battery technology have resulted in the advent of lighter rechargeable
batteries that can support longer journeys. These factors are attributed to the
growth of the electric bicycle segment
·
The number of men opting for bicycle
commutation was higher than that of women and kids in 2017. The men segment is
expected to expand significantly at a CAGR of over 5.0% over the forecast
period as men would continue to outnumber women and kids in terms of opting for
bicycle commutation
·
Asia Pacific was the dominated the
market in 2017 with a market share exceeding 25% in terms of revenue.
Governments in Asian nations, particularly Japan, China, and Singapore among
others, are investing aggressively in establishing the infrastructure necessary
to encourage and support bicycle commutation
·
Leading incumbents of the bicycle
market are Accell Group, Dorel Industries, Giant Bicycles, Merida, and Trek
Bicycles among others. They dominated the market in 2017 leveraging a
continuous emphasis on expanding their market share through mergers and
acquisitions.
Browse more reports of this category by Grand View
Research at: www.grandviewresearch.com/industry/automotive-and-transportation
Grand View Research has segmented the global bicycle
market based on product, technology, end user, and region:
Bicycle Product Outlook (Revenue,
USD Million, 2014 - 2025)
·
Mountain Bicycle
·
Hybrid Bicycle
·
Road Bicycle
·
Others
Bicycle Technology Outlook (Revenue,
USD Million, 2014 - 2025)
·
Electric
·
Conventional
Bicycle End User Outlook (Revenue,
USD Million, 2014 - 2025)
·
Men
·
Women
·
Kids
Bicycle Regional Outlook (Revenue,
USD Million, 2014 - 2025)
·
North America
o
U.S.
o
Canada
·
Europe
o
U.K.
o
Germany
o
France
o
Italy
·
Asia Pacific
o
China
o
India
o
Japan
·
Latin America
o
Brazil
o
Mexico
·
Middle East & Africa
Access
Press Release of Bicycle Market @ www.grandviewresearch.com/press-release/global-bicycle-market
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
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